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For the latest news and information on Hong Kong, please check out news.gov.hk.

Second Quarter GDP Up 6.5%
Hong Kong’s second quarter GDP rose 6.5% compared with a year earlier, following a growth of 8% in the first quarter. On a seasonally adjusted quarter-to-quarter comparison, real GDP expanded by 1.4%, according to the Half-yearly Economic Report 2010 released by the Hong Kong Special Administrative Region Government today.

Hong Kong’s Foreign Currency Reserves at US$260.7 Billion
Hong Kong’s foreign currency reserve assets amounted to US$260.7 billion at the end of July 2010, according to the Hong Kong Monetary Authority (HKMA), compared with US$256.8 billion at end-June 2010.

Hong Kong Gains Record High Ranking as Global FDI Recipient
Hong Kong was the world’s fourth largest Foreign Direct Investment (FDI) recipient in 2009, according to the World Investment Report 2010 (WIR) unveiled today by the United Nations Conference on Trade and Development (UNCTAD). This marks the first time that Hong Kong has gained fourth place in the global rankings and represents a jump from its ninth position in 2008. For the 12th consecutive year, Hong Kong continues to be the second largest FDI recipient in Asia, after Mainland China.

Signing of Memorandum of Cooperation on Renminbi Business
The Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr. Norman Chan, and Deputy Governor of the People’s Bank of China (PBoC), Ms. Hu Xiaolian, signed a Supplementary Memorandum of Co-operation today on the expansion of the renminbi trade settlement scheme. Following the expansion of the renminbi trade settlement scheme, the HKMA and the PBoC have agreed to strengthen co-operation and further promote Hong Kong’s status and role as a renminbi market platform in the process of developing renminbi business outside the Mainland. This is a milestone in the development of offshore renminbi business in Hong Kong and a very crucial step in the implementation of the two guiding principles set out in the HKMA circular issued in mid-February.

Number of Registered Companies Hits Record High
The number of companies registered under the Companies Ordinance has reached a record high. The total number of live local companies registered was 815,762 at the end of June this year, up 43,509 from the number at the end of 2009, according to statistics released by the Companies Registry on July 11.